And ... with any of those credit rating agencies ...one has to take their data with tongue-in-cheek. Their business model is based upon the owner of the object being rated actually pays for it being rated ...where-as in the case of countries they do not pay the agencies. There have been in the past a few! un-publicised incidents where they warn in advance countries of downgrading, because they (or a paying customer) have some sort of agenda regarding the country being rated. Look at it this way, a downgrading of a country makes it more expensive for that country to borrow if needed, on the otherside it gives a financial institution (a paying customer of the rating agencies) a legitimate reason to raise interest rates charged to that country. It is a business/power game often, you just need to look to the sides to see what else is going on. Heck, I know of 1 incident where a country was about to do a tax audit on one agency, and it popped into the press they might possibly be downgraded ...audit was abandoned.

As mentioned, these credit agencies...bundled in with the global auditing firms, consulting firms, banking federations etc, they all missed the boat before the credit crunch. They all missed the tsunami approaching. They are always wise after the fact, when they are charged with the resposnibility to give expert unbiased guidance...but they are corrupt, influenced by politicians, power brokers and as such any guidance they give now...should be treated as the same as the advice they were giving prevous to 2008...with a pinch of salt!

The uK has a triple A rating, but the government debt is absolutely massive and STILL increasing. Add in the UK private debt and you have a monstrous tidal wave combined with the expensive pension pot to maintain, an ever demanding NHS, a large increase in immigration/migration etc etc and yet they still have a triple A rating. Why? Because the Government is maikng noises that it's making cuts and will make more. But the government debt is still increasing and they have missed their targets. Unless that tide turns and pretty fast, then watch the Conservative/Lib Dem gladly pass on the baton to Labour to try and locak the gate after he horse has bolted.